AI春节"抢红包"大战，愈发激烈。腾讯元宝又"甩"出新招。 （文章来源：广州日报） 不仅是元宝，阿里千问在上线"春节30亿免单"不久，其红包链接也因为包含诱导分享等原因被微信封 禁。在微信屏蔽元宝和千问的红包链接后，元宝与千问将红包裂变分享的方式改为了复制口令形式。此 后，有报道指，2月6日下午开始，元宝与千问的红包口令在被发送到微信对话界面后，用户已经无法复 制口令信息。 2月8日，元宝口令红包已可在微信平台复制。同时，千问口令红包在微信平台也已恢复可复制。 至记者截稿时，元宝和千问的口令红包在微信平台仍可复刻。 2月10日上午，有网友发现，在微信里的聊天输入"元宝"二字，界面就有福袋掉落。更有网友晒图，点 击福袋获得红包，并直接存入微信零钱。 记者测试发现，并非每个福袋都是现金红包，有的是出现"前往元宝，参加'上元宝分10亿现金'活动"的 界面，通过该界面点击"立即前往"，则会进入"打开/下载元宝"界面，再次点击，直接跳转到元宝App （已下载元宝App）红包活动界面。这似乎是元宝此前所言的"优化调整分享机制"。 春节前夕，AI应用的"红包大战"进入白热化。2月4日，微信发文表示，经研判，对元宝的违规链接 ...

Core Viewpoint - Tencent Hunyuan has launched a new ultra-small model, HY-1.8B-2Bit, designed for consumer-grade hardware, which is significantly smaller than many common mobile applications, making it suitable for edge deployment [2][13]. Group 1: Model Specifications and Performance - The HY-1.8B-2Bit model has a parameter count of only 0.3 billion and a memory footprint of just 600MB, making it ideal for deployment on edge devices [1][13]. - The model utilizes a unique 2-bit quantization scheme, which reduces the parameter count by six times compared to the original model while maintaining its full cognitive capabilities [2][6]. - Compared to the original precision model, the generation speed of HY-1.8B-2Bit is enhanced by 2-3 times on real edge devices, significantly improving user experience [2][6][13]. Group 2: Quantization Techniques - The model employs Quantization Aware Training (QAT) to mitigate the precision loss typically associated with 2-bit quantization, allowing it to approach the performance of full-precision models [6][11]. - The "Elastic Stretch Quantization" (SEQ) strategy is introduced to address the challenges of low precision, enhancing the model's ability to capture high-dimensional feature distributions [9][11]. - Data optimization strategies have been implemented, increasing the proportion of scientific data and incorporating long-text data to improve the model's overall capabilities [8][7]. Group 3: Training and Deployment - The training process for HY-1.8B-2Bit was optimized to require only 10% of the tokens needed for training the Bitnet-2B model, demonstrating efficiency in achieving low-bit model performance [12][11]. - The model is compatible with Arm computing platforms and has been tested on devices like the MacBook M4 and Dimensity 9500, showing significant acceleration in both latency and generation speed compared to original models [13][14]. - Future developments will focus on reinforcement learning and model distillation to further enhance the capabilities of low-bit quantized models, aiming to bridge the performance gap with full-precision models [15].

内容来源：苏德超老师访谈整理笔记。 分享嘉宾：苏德超，武汉大学哲学学院教授、笔记侠PPE（政经哲）书院创始顾问、西方哲学模块全程授课导师 上周，腾讯和阿里为自家的"元宝"和"千问"拿出几十亿真金白银，上演了激烈的春节红包大战。 然而，就在过去几天，我们发现腾讯"元宝"、百度"文心一言"、阿里"千问"的红包链接遭到微信的"无差别"封杀。 据了解，微信团队一向都有着自己的价值观，如果不是以用户需求为导向的行为，就和他们的价值观相冲突，微信就不会客气，不管是腾讯自己的项目还 是腾讯投资的项目。 张小龙在内部说："做任何事情绝对不要第一时间去考虑产品商业化如何实现，而要先考虑用户的需求跟场景是什么。" 为什么商业化不应该是企业的第一目标呢？ 做对用户有价值的事情，满足用户需求，自然会实现商业化价值。这正是在提醒元宝如何凸显自己的用户价值。 我们愿意相信，微信这次这么做的原因，背后有着张小龙和微信团队一直坚守的几个核心价值观。 2月4日，腾讯旗下AI应用"元宝"的红包分享链接被微信屏蔽。 2月5日，百度"文心"助手的红包分享链接也被微信屏蔽。 2月6日，阿里"千问"AI应用的春节活动链接及口令被微信限制，部分用户无法复 ...

Summary of Key Points from the Conference Call Industry Overview - **AI Industry**: Major companies like Tencent and Alibaba are launching significant AI applications for the upcoming Spring Festival, indicating a competitive landscape in AI technology and applications [1] - **Commercial Space and Solar Power**: The commercial space industry is approaching a critical phase in 2026, with successful launches of reusable spacecraft in China. Tesla is reportedly expanding its solar battery manufacturing footprint across multiple states in the U.S. [2] - **Robotics**: Various companies are showcasing their robotics technologies during the Spring Festival, with a notable emphasis on the importance of dexterous robotic hands as highlighted by Elon Musk [3] - **AI Animation and Computing Power**: ByteDance has quietly launched its AI video generation model Seedance 2.0, which utilizes breakthrough technologies. The Ministry of Industry and Information Technology in China is promoting a national computing power interconnectivity system [4] - **Stablecoins**: The Hong Kong Monetary Authority is preparing to issue the first batch of stablecoin licenses by March, with a focus on maintaining stability in the issuance process [5] Core Insights and Arguments - **AI Applications**: The competition among major tech firms in AI applications is intensifying, with significant investments and innovations being made to capture market share during high-traffic events like the Spring Festival [1] - **Commercial Space Developments**: The advancements in reusable spacecraft technology are expected to revolutionize the commercial space sector, potentially leading to increased investment and growth opportunities [2] - **Robotics Innovation**: The emphasis on dexterous robotic hands suggests a shift towards more sophisticated robotic capabilities, which could enhance automation across various industries [3] - **AI and Computing Power**: The launch of Seedance 2.0 signifies a major advancement in AI capabilities, which could disrupt the video content creation industry and enhance user engagement [4] - **Stablecoin Regulation**: The cautious approach to stablecoin licensing in Hong Kong reflects a broader trend towards regulatory oversight in the cryptocurrency space, aiming to ensure market stability [5] Additional Important Content - **Collaborations in AI**: Companies like Huya and Kuaishou are partnering with AI cloud service providers for major events, indicating a trend towards collaborative efforts in enhancing AI capabilities [1] - **Investment Opportunities**: The developments in commercial space and solar power sectors present potential investment opportunities, particularly in companies involved in these technologies [2] - **Market Trends in Robotics**: The participation of various robotics companies in high-profile events suggests a growing market interest and potential for innovation in this field [3] - **Government Initiatives**: The push for a national computing power interconnectivity system indicates government support for technological advancements, which could benefit related industries [4] - **Stablecoin Market Dynamics**: The limited issuance of stablecoin licenses may create a competitive environment among a few players, impacting market dynamics and investment strategies [5]

一是构建产业特色课程体系。紧扣深圳"20+8"产业集群，开发人工智能、机器人、无人机编程、智慧城 市等特色校本课程，推动学生在真实场景中学习，激发好奇心与创造力。二是搭建开放协同平台。引导 华为、腾讯等头部企业与中小学深度合作，完善校企导师制、校外实验基地等机制，推动校企资源高效 联动、提质升级。三是强化师资与保障机制。将科技教育纳入教师考核与培训体系，提升教师跨学科教 学能力；设立专项经费，支持学校购买优质社会科技服务，推动科技教育从兴趣小组向必修课转型。 陈琳表示，近年来，深圳在教育领域投入力度大、举措扎实，科技教育水平位居全国前列。她建议，充 分发挥深圳产业优势，将科技教育打造为城市核心竞争力，重点从三方面发力。 南都讯 深圳作为科技之城、创新之城、金融之城，科技教育对城市长远发展至关重要。今年深圳市两 会期间，市人大代表陈琳提出打造中小学科技教育深圳样板，夯实城市科技创新根基的建议。 ...

Investment Rating - The report maintains a "Recommended" rating for the power equipment sector [4][15]. Core Insights - North American CSP companies are significantly increasing their capital expenditures, with Meta's Q4 2025 capex reaching $22.14 billion and projected to rise to $115-135 billion in 2026. Microsoft, Amazon, and Google are also increasing their capex, indicating a robust demand for AI training and inference [3][12][13]. - Domestic AI applications are entering a commercialization inflection point, with companies like Tencent and Alibaba launching significant promotional campaigns to stimulate user engagement and application usage [12][13]. - The AI industry is transitioning from a focus on computational power to a collaborative expansion involving infrastructure and application ecosystems, benefiting sectors such as servers, power equipment, data centers, and liquid cooling systems [14]. Summary by Sections Investment Views - The report suggests focusing on the IDC sector, highlighting companies like Kehua Data and Jinpan Technology due to their growth potential. It also recommends monitoring high-voltage circuit breakers and power supply sectors, with specific mentions of companies like Liangxin and Sunshine Power [4][14]. Industry Dynamics - The report notes that the domestic data center sector is beginning to expand and upgrade, with significant opportunities in direct current power supply equipment. The power equipment sector is expected to benefit from these trends [4][17]. - The report highlights that the State Grid's fixed asset investment grew by over 35% year-on-year in January, indicating strong infrastructure investment [18][19]. Key Companies and Earnings Forecast - The report provides earnings forecasts for several companies, including Kehua Data, Liangxin, and Sunshine Power, with specific EPS and PE ratios outlined for 2024 to 2026 [7][16].

智通财经APP获悉，根据2026年2月9日披露数据，中国电信（00728）、绿色动力环保（01330）、昊天 国际建投（01341）位居港股通持股比例前3位，分别为71.54%、68.88%、68.17%。此外，腾讯控股 （00700）、南方恆生科技（03033）、中国人寿（02628）在最近有统计数据的5个交易日内，持股额增 幅最大，分别为+97.79亿元、+30.55亿元、+19.73亿元;中芯国际（00981）、华虹半导体（01347）、长 飞光纤光缆（06869）在最近有统计数据的5个交易日内，持股额减幅最大，分别为-26.26亿元、-6.30亿 元、-6.10亿元。 具体数据如下（交易所数据根据T+2日结算）： 3、港股通最近5个交易日减持榜（前10名） | 公司名称 | 持股额变动 | 持股数变动 | | --- | --- | --- | | 中芯国际(00981) | -26.26亿元 | -3733.04万股 | | 华虹半导体(01347) | -6.30亿元 | -614.49万股 | | 长飞光纤光缆(06869) | -6.10亿元 | -582.17万股 | | 中国平安(0231 ...

Core Viewpoint - The article posits that the upcoming Spring Festival marks a pivotal moment for AI applications in China, indicating the beginning of a new era for AI integration into daily life and business practices [2][20]. Group 1: AI Application and Market Dynamics - Major tech companies are heavily investing in AI-related activities during the Spring Festival, with Tencent, Alibaba, and ByteDance launching various initiatives to attract user engagement, including significant red envelope campaigns totaling over 50 billion [4][10]. - The competition among these companies is not just about user engagement but also about leveraging AI capabilities to enhance their respective platforms, with a focus on integrating AI into social, entertainment, and e-commerce sectors [8][26]. - The article highlights the intense preparations by both large and small AI firms to capitalize on the increased traffic during the holiday, with many companies already in a state of readiness weeks in advance [17][18]. Group 2: Workforce and Operational Challenges - AI professionals are facing significant pressure during this period, with many required to work through the holiday to ensure system stability and performance amid high user demand [14][17]. - The article notes that the operational strain is not limited to major firms; smaller AI companies are also feeling the heat as they compete for resources and market share during this critical time [19][39]. - The demand for GPU resources is escalating, leading to a scramble among companies to secure necessary computing power, which is crucial for maintaining service quality during peak usage [18][32]. Group 3: Future Implications and Trends - The article suggests that the Spring Festival will serve as a significant testing ground for AI applications, potentially leading to transformative changes in how AI is utilized in consumer-facing scenarios [24][26]. - It anticipates that by 2025, the user base for generative AI in China will reach approximately 602 million, indicating a growing acceptance and integration of AI technologies in everyday life [27]. - The competitive landscape is expected to evolve, with established players likely dominating the market, while smaller firms may struggle to find their footing amidst the heightened competition [38][39].

Group 1 - The top three stocks with the highest short-selling ratios are New World Development Co. Ltd. (80016) at 100.00%, SenseTime Group Inc. (80020) at 80.12%, and Great Wall Motor Co. Ltd. (82333) at 75.14% [1][2] - The highest short-selling amounts are recorded for Xiaomi Corporation (01810) at 1.731 billion, Alibaba Group Holding Ltd. (09988) at 1.550 billion, and Meituan (03690) at 1.518 billion [1][3] - The top three stocks with the highest deviation values are New World Development Co. Ltd. (80016) at 44.46%, SenseTime Group Inc. (80020) at 35.88%, and China National Offshore Oil Corporation (80883) at 26.39% [1][3] Group 2 - The detailed short-selling ratio rankings show New World Development Co. Ltd. (80016) leading with a short-selling amount of 345,900 and a deviation value of 44.46% [2][3] - SenseTime Group Inc. (80020) follows with a short-selling amount of 257,500 and a deviation value of 35.88% [2][3] - Great Wall Motor Co. Ltd. (82333) has a short-selling amount of 70,700 and a deviation value of -3.29% [2] Group 3 - The short-selling amount rankings indicate Xiaomi Corporation (01810) at 1.731 billion with a short-selling ratio of 39.72% and a deviation value of 21.05% [3] - Alibaba Group Holding Ltd. (09988) has a short-selling amount of 1.550 billion with a short-selling ratio of 16.68% and a deviation value of 4.47% [3] - Meituan (03690) shows a short-selling amount of 1.518 billion with a short-selling ratio of 39.18% and a deviation value of 22.10% [3]

智通财经APP获悉，2月5日,腾讯控股（00700）、盈富基金（02800）、阿里巴巴-W（09988）南向资金 净流入金额位列市场前三，分别净流入55.64 亿、45.57 亿、15.35 亿 华虹半导体（01347）、长飞光纤光缆（06869）、中芯国际（00981）南向资金净流出金额位列市场前 三，分别净流出-5.30 亿、-4.51 亿、-3.12 亿 在净流入比方面，阜丰集团（00546）、建发国际集团（01908）、绿色动力环保（01330）以68.35%、 67.39%、64.54%位列市场前三。 在净流出比方面，保利物业（06049）、瑞安房地产（00272）、同仁堂国药（03613） 以-61.67%、-58.21%、-57.85%位列市场前三。 前10大资金净流入榜 | 股票名称 | 净流入(元)↓ | 净流入比 | 收盘价 | | --- | --- | --- | --- | | 腾讯控股(00700) | 55.64 亿 | 12.80% | 558.500（+0.09%） | | 盈富基金(02800) | 45.57 亿 | 15.71% | 27.100（+0.07%） | | ...